KRW

Whitebox Advisors Sends Letter to Samsung C&T Corporation’s Board of Directors Regarding Immediate Opportunities to Enhance Shareholder Value

Retrieved on: 
Wednesday, December 13, 2023

We are a long-term shareholder that has repeatedly sought to engage with SCT’s Board of Directors (the “Board”) and representatives of the management team in a constructive, private manner since 2017.

Key Points: 
  • We are a long-term shareholder that has repeatedly sought to engage with SCT’s Board of Directors (the “Board”) and representatives of the management team in a constructive, private manner since 2017.
  • SCT includes treasury share cancellation as part of its Shareholder Return Policy, but we would not characterise this as a shareholder return.
  • The Company has destroyed shareholder value, with a track record of decision making that appears to ignore the interests of its minority shareholders.
  • If the Board does not meaningfully engage with us on our recommendations to enhance shareholder value at SCT, we intend to share our views with our fellow shareholders in due course.

DL E&C Signs a Technical Cooperation Agreement for Sustainable Aviation Fuel (SAF) with KBR

Retrieved on: 
Wednesday, December 13, 2023

This agreement marks the first step for both companies to increase their market share in the sustainable aviation fuel sector.

Key Points: 
  • This agreement marks the first step for both companies to increase their market share in the sustainable aviation fuel sector.
  • To achieve carbon neutrality by 2050, the aviation industry has mandated the use of sustainable aviation fuel.
  • DL E&C and KBR have agreed to combine their respective strengths and expertise to develop a comprehensive business plan for sustainable aviation fuel producers based on the innovative ATJ technology.
  • Under this agreement, DL E&C will be responsible for FEED, EPC (engineering, procurement, construction), and pre-commissioning of production plants.

AM Best Revises Issuer Credit Rating Outlook to Positive for Korean Reinsurance Company

Retrieved on: 
Friday, December 8, 2023

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Korean Reinsurance Company (KRE) (South Korea).

Key Points: 
  • AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Korean Reinsurance Company (KRE) (South Korea).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.
  • Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates.

Korea Zinc Holds its First Investor Day, Announcing a Revenue Target of KRW 25.3 trillion for 2033

Retrieved on: 
Thursday, December 7, 2023

Korea Zinc unveiled a ‘quantum jump’ strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033.

Key Points: 
  • Korea Zinc unveiled a ‘quantum jump’ strategy of increasing its revenue 2.5-fold to KRW 25.3 trillion by 2033.
  • To this end, the company will bring sales from the Troika Drive businesses to KRW 12.2 trillion by 2033, contributing almost half of the total revenue of 2033.
  • By doing so, Korea Zinc aims to achieve its revenue target of KRW 25.3 trillion in 2033 and continue its journey to carbon neutrality in 2050.
  • With these measures in place, Korea Zinc targets to expand smelting revenue to KRW 13 trillion by 2033.

APR Achieves Consolidated Sales of KRW 122 Billion and Consolidated Operating Profit of KRW 21.7 Billion in Q3 2023

Retrieved on: 
Monday, November 27, 2023

APR disclosed on November 14 that it had consolidated sales of KRW 122 bn (approx.

Key Points: 
  • APR disclosed on November 14 that it had consolidated sales of KRW 122 bn (approx.
  • APR’s revenue climbed by 28.0% year on year, while its operating profit increased by 72.7%.
  • On a cumulative basis, Q3 achieved record-breaking sales of KRW 371.9 bn and an operating profit of KRW 69.7 bn.
  • Remarkably, Q3’s cumulative sales reached 94% of last year’s total sales (KRW 397.7 bn), and operating profit surpassed the total amount for the entire 2022 (KRW 39.2 bn).

TERA SCIENCE counts down its entry into the global environmental waste and new renewable energy market

Retrieved on: 
Friday, December 15, 2023

TERA SCIENCE will achieve waste management innovation with 5th generation CDS technology in South Korea's KRW 23.7 trillion market...

Key Points: 
  • TERA SCIENCE will achieve waste management innovation with 5th generation CDS technology in South Korea's KRW 23.7 trillion market...
  • CDS (Centrifugal Divided Space) technology is an innovative patented technology that dramatically combusts various wastes and converts them into energy.
  • TERA SCIENCE is expected to maximize corporate value by advancing into the waste treatment and new renewable energy fields using 6th generation CDS technology.
  • They say that TERA SCIENCE's waste-related renewable energy field should also be protected from technology transfer from Korea to overseas.

CLASS101 Joins Forces with MarqVision in a Pioneering Partnership to Safeguard the Intellectual Property of Its Creators

Retrieved on: 
Monday, December 11, 2023

Naturally, the company became keenly aware of the need to protect the knowledge, techniques, and know-how of its creators in all forms and manners.

Key Points: 
  • Naturally, the company became keenly aware of the need to protect the knowledge, techniques, and know-how of its creators in all forms and manners.
  • The latter keeps a vigilant eye on social media and e-commerce platforms and roots out unauthorized sales and/or distribution of the intellectual property of CLASS101's creators.
  • This partnership is, in turn, a tangible demonstration of CLASS101's commitment to fostering long-term trust with its creators.
  • "CLASS101 sought a secure and efficient means to protect the intellectual property of its creators, and our partnership with MarqVision provides us with a distinct advantage in this respect," stated Hyeonseo Ku, General Manager at CLASS101.

Hyundai Capital Services recognized by UN Global Compact for its sustainable finance best practices

Retrieved on: 
Friday, November 17, 2023

SEOUL, South Korea, Nov. 17, 2023 /PRNewswire/ -- Hyundai Capital Services announced today that it was acknowledged as the Best Practice Company in the "Sustainable Finance" category at the "UN Global Compact Korea Leaders Summit 2023" hosted by the United Nations Global Compact (UNGC) Korea.

Key Points: 
  • SEOUL, South Korea, Nov. 17, 2023 /PRNewswire/ -- Hyundai Capital Services announced today that it was acknowledged as the Best Practice Company in the "Sustainable Finance" category at the "UN Global Compact Korea Leaders Summit 2023" hosted by the United Nations Global Compact (UNGC) Korea.
  • During the Summit, Daniel Lee, CFO of Hyundai Capital Services presented on the company's ESG management best practices and shared performance results with the UNGC members.
  • Joining the CFO Coalition is a great opportunity for Hyundai Capital Services to continue advancing sustainable finance in global business.
  • "As a global automotive finance company, Hyundai Capital Services plans to continue to actively project eco-friendly values into its financial products and services.

SM Entertainment Achieves Record-Breaking Q3 Performance with KRW 50.5 billion Operating Profit, Marking a Phenomenal 70% YoY Surge

Retrieved on: 
Thursday, November 9, 2023

On Nov 8, SM Entertainment Co., Ltd. (SM) revealed consolidated operating profit of KRW 50.5 billion for Q3, a staggering 70% YoY increase.

Key Points: 
  • On Nov 8, SM Entertainment Co., Ltd. (SM) revealed consolidated operating profit of KRW 50.5 billion for Q3, a staggering 70% YoY increase.
  • This achievement is accompanied by a revenue surge of KRW 266.3 billion, a 12% YoY increase.
  • On a standalone basis, SM reported KRW 48 billion in operating profit, a 77% YoY surge.
  • SM's subsidiaries also showcased impressive results, with DREAM MAKER posting an operating profit of KRW 3.9 billion, reflecting 38.4% YoY increase.

City of London Investment Management Company Ltd Publishes Letter to Board of Samsung C&T

Retrieved on: 
Monday, November 6, 2023

City of London Investment Management Company Limited (“CLIM”) publishes on their website ( https://citlon.com/esg-clients ) today a letter sent to the Chairman of the Board of Samsung C&T Corporation (“Samsung C&T” or the “Company”) detailing proposals for a 2023 dividend of KRW 4,500 per ordinary share (2022: KRW 2,300) and a KRW 500 billion share buyback programme to run until the end of 2024.

Key Points: 
  • City of London Investment Management Company Limited (“CLIM”) publishes on their website ( https://citlon.com/esg-clients ) today a letter sent to the Chairman of the Board of Samsung C&T Corporation (“Samsung C&T” or the “Company”) detailing proposals for a 2023 dividend of KRW 4,500 per ordinary share (2022: KRW 2,300) and a KRW 500 billion share buyback programme to run until the end of 2024.
  • CLIM intends to submit these proposals for shareholder consideration at the Company’s 2024 Annual General Meeting.
  • CLIM first invested in Samsung C&T in 2017 and regularly engages with the Company’s representatives, including members of the Board of Directors.
  • As at October 31, 2023, CLIM estimates that the share price discount to intrinsic value exceeded 66%, representing a shareholder value deficit of over KRW 34 trillion (US$25 billion).